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Sonic R. System

  • #52,041
  • Jun 28, 2013 7:07am Jun 28, 2013 7:07am
Quoting traderathome
GU Short Trade: Entered short #1 and later added #2, both Scouts and based on the break and reverse yesterday being only a pullback by the MMs for reloading of shorts. Trade was made while FF was down. {image}
GU Short Trade:

Added short #3 at US open as US MMs hiked price for their shorting. Scout. Adjusted TP.
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  • #52,042
  • Jun 28, 2013 7:10am Jun 28, 2013 7:10am
Quoting Catcher777
For admin. This problem is about a week. FF - OK {image} {image} IE9 - NG {image} {image}
Here is not the right place to show. You need to send pics via email to FF. Also, use "Contact FF" link at bottom of page to submit your complaint.
  • #52,043
  • Jun 28, 2013 7:12am Jun 28, 2013 7:12am
Quoting traderathome
{quote} Here is not the right place to show. You need to send pics via email to FF. Also, use "Contact FF" link at bottom of page to submit your complaint.
OK. Thx TAH
If you think you can do a thing or think you can't do a thing, you're right
  • #52,044
  • Jun 28, 2013 7:26am Jun 28, 2013 7:26am
Idea for the trade levels indi

Hey TAH, I think it would be nice for the new version of the indi to have a sum of the pips counting and averaging the pips from every order in the pair. I don't even know if that is possible, but if so it would be nice
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To fail is just an opportunity to learn
  • #52,045
  • Jun 28, 2013 7:38am Jun 28, 2013 7:38am
Quoting Tymedu
Idea for the trade levels indi Hey TAH, I think it would be nice for the new version of the indi to have a sum of the pips counting and averaging the pips from every order in the pair. I don't even know if that is possible, but if so it would be nice {image}
We have our targets and our plan. Tick by tick display of P/L based on trade average cost and current price would only be distracting and cluttering, not to mention another drain on computer resources. Just my opinion. It might even encourage traders to close too soon, seeing pips profit though target not yet reached.
  • #52,046
  • Jun 28, 2013 7:41am Jun 28, 2013 7:41am
  •  St3ve
  • | Joined Jan 2013 | Status: Recovering from losses ... | 77 Posts
PVSRA Project 1 -- completed!

This is my success story for all those who are interested in and a little motivational pump for all others!

I started trading about 2 years ago. I moved from stocks and bonds to binary options and in the end, I stayed with the forex market. I spend hours on end reading books and online material, trying various EAs and different trading systems but couldn't manage to be profitable even over the course of one month.

One day, I stumbled upon sonicdeejay's thread and was fascinated by the simplicity and clean trading method. I started by reading post 1 and continued to page ~500. I have to admit that I then skipped the rest and started again with the first post of 2013.
Continuing from there, I read every single post - and by this I mean read and try to understand - not just cross-reading to get to the current post as fast as possible. I always tried to read the headlines of TAHs posts, then analyze the chart by myself and finally read the rest of the post to check if my analysis meets TAHs view. That way, I learned a lot!

As soon as I got the basics of PVSRA, I opened a new account and started trading live. During the last 80 days of live trading, I improved my PVSRA and money management skills every day! My goal was to reach 100% account growth - without a time limit set in mind.
Yesterday, I decided to close all open trades and end this project to start a new one next week (with increased account balance).

What I will change for my next project:

Money Management
I definitely used a lot size too big for my account balance. I had about 30% drawdown during the worst times - this is way to much! I will switch to trading 0.01 standard lots (= 0.1$/pip) for every 5k account balance (min. 50k bankroll in pips).
Example:
5.000$ = 0.01 lots
9.800$ = 0.01 lots
10.000$ = 0.02 lots

Trading 6 pairs with 20 open trades will allow a max. drawdown of 400pips per position. This will dramatically decrease my account growth compared to my current money management strategy, but it will also reduce a possible drawdown tremendously.


Result:
http://www.myfxbook.com/members/St3v...stem-ps/538744

I thought about hiding my account balance but then decided to make it public. I guess it is of average size for a starter account but large enough to do not manage trades frivolously.

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PVSRA Project 2 -- soon to be started!



Finally, I need to say thank you TAH:

"thank you" for your great work!
"thank you" for sharing your PVSRA knowledge with us ... without a charge!
"thank you" for having so much patience while teaching us how to do it right!
"thank you" for spending hours on end to create those fantastic indicators!
"thank you" for spending hours on end to post each trade you take!
"thank you" so much!!


I wish you all a fantastic weekend!

Steve
  • #52,047
  • Jun 28, 2013 7:44am Jun 28, 2013 7:44am
  •  Ravelt
  • | Joined Feb 2013 | Status: The Closer You Look The Less You Se | 194 Posts
EU MM = Bearish, High Selling activity on high

Need a review Prof
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  • #52,048
  • Jun 28, 2013 7:55am Jun 28, 2013 7:55am
Quoting St3ve
PVSRA Project 1 -- completed! This is my success story for all those who are interested in and a little motivational pump for all others! I started trading about 2 years ago. I moved from stocks and bonds to binary options and in the end, I stayed with the forex market. I spend hours on end reading books and online material, trying various EAs and different trading systems but couldn't manage to be profitable even over the course of one month. One day, I stumbled upon sonicdeejay's thread and was fascinated by the simplicity and clean trading method....
Newbie trader
  • #52,049
  • Jun 28, 2013 7:58am Jun 28, 2013 7:58am
My yesterday's trade Gbp/Usd: 5 scouts 200 pips = 1.000 * 3 accounts = 3.000 pips

My trade Gbp/Usd from 21.6. - 1402 pips
http://www.forexfactory.com/showthre...32#post6770532

Last 2 trades on Gbp/Usd total - 4402 pips
TAH Thanks for everything. PVSRA really works.

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If you think you can do a thing or think you can't do a thing, you're right
  • #52,050
  • Jun 28, 2013 8:05am Jun 28, 2013 8:05am
Quoting rajesh007
Hi, Can someone confirm does my analysis and setup is correct? This for USDJPY. [please ignore control panel box it showing USDCAD, i'm not sure why its showing] {image}
Someone can confirm my post on USDJPY trade?
  • #52,051
  • Jun 28, 2013 8:09am Jun 28, 2013 8:09am
Quoting St3ve
Trading 6 pairs with 20 open trades will allow a max. drawdown of 400pips per position. This will dramatically decrease my account growth compared to my current money management strategy, but it will also reduce a possible drawdown tremendously.

it means 400 pips DD per open trades , or per trading pairs ?

K = 5000$

it is like this ?

400 *20 *0.1$ = 800$ dd max
or
6*400*0.1$= 240$ dd max
or
6*20*400*0.1$=4800$ dd max

??
  • #52,052
  • Jun 28, 2013 8:29am Jun 28, 2013 8:29am
  •  St3ve
  • | Joined Jan 2013 | Status: Recovering from losses ... | 77 Posts
Quoting Redsunfx
it means 400 pips DD per open trades , or per trading pairs ?

Worst case example:

Account Balance: 10.000
Just switched from 0.01 to 0.02 standard lots, which means 0.2$/pip
Trading 6 different pairs at the same time
Having 20 open positions at once on EVERY single pair traded

--> ACCOUNT BALANCE / $ per pip / (PAIRS*POSITIONS) = 10000 / 0.2 / (6*20) = 416 pips

If every single position is more than 417 pips on the losing side, then I would get a margin call.
This also means, that the current price of pair X must be 417pips away from the averge entry point.

You need to think about what 416 pips means ... this is 416 pips from the average entry point. At the time, the average EP is 417 pips away from the current price, your first EP would be min. 600-700 pips on the wrong side!


"Real world" example:

Account Balance: 12.500
Trading 0.02 standard lots, which means 0.2$/pip
Trading 4 different pairs at the same time
Having 12 open positions at once on EVERY single pair traded

--> ACCOUNT BALANCE / $ per pip / (PAIRS*POSITIONS) = 12500 / 0.2 / (4*12) = 1302 pips

During my first project, I never traded 6 pairs concurrently and I never had 20 positions open at the same time!
Under normal trading circumstances, every trade can be far more pips in the negative!


Steve
  • #52,053
  • Jun 28, 2013 8:35am Jun 28, 2013 8:35am
Quoting St3ve

I never traded 6 pairs concurrently and I never had 20 positions open at the same time! Under normal trading circumstances, every trade can be far more pips in the negative!


very clear ... very smart .... thank's a lot
  • #52,054
  • Edited 11:04am Jun 28, 2013 8:39am | Edited 11:04am
Quoting St3ve
{quote} Worst case example: Account Balance: 10.000 Just switched from 0.01 to 0.02 standard lots, which means 0.2$/pip Trading 6 different pairs at the same time Having 20 open positions at once on EVERY single pair traded --> ACCOUNT BALANCE / $ per pip / (PAIRS*POSITIONS) = 10000 / 0.2 / (6*20) = 416 pips If every single position is more than 417 pips on the losing side, then I would get a margin call. This also means, that the current price of pair X must be 417pips away from the averge entry point. You need to think about what 416 pips means...

Great results, St3ve, thank's for sharing!

Don't forget to consider the margin (depends of your broker's leverage) per trade.

Regards

futurespeter
  • #52,055
  • Jun 28, 2013 9:01am Jun 28, 2013 9:01am
Quoting traderathome
{quote} {quote} Marvas, Yes, what jackywang5 said. Also, you have your Chart_Zoom setting wrong! There should be no spaces in the Dragon! Your chart should look like mine. Obviously, you still haven't done your reading and studying. Failing grade! How you tend to learning how to use the tools of the trade is exactly how you will be as a trader. So far, you exhibit an uncaring sloppiness. Furthermore, let me reinforce what jackywang5 said about indicators. We don't use some of what you added to the template. The very first thing you need to grasp...
I completely agree with you.. i'll spend the next few weeks reading up on the system.. thanks
  • #52,056
  • Jun 28, 2013 9:08am Jun 28, 2013 9:08am
Quoting Tymedu
Idea for the trade levels indi Hey TAH, I think it would be nice for the new version of the indi to have a sum of the pips counting and averaging the pips from every order in the pair. I don't even know if that is possible, but if so it would be nice {image}
Tymedu,

This what you have in mind?.....
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  • #52,057
  • Jun 28, 2013 9:30am Jun 28, 2013 9:30am
-- Question to Prof. TAH and Others! --

So, for example, some position's build-up has been made in any direction and the price has started to move in the right direction. A trader has defined TP for all the entries. Do you always wait to close your entries by default wit TPs or you do close some positions manually before the price reaches predefined TPs???
  • #52,058
  • Jun 28, 2013 9:40am Jun 28, 2013 9:40am
Quoting ITrader81
-- Question to Prof. TAH and Others! -- So, for example, some position's build-up has been made in any direction and the price has started to move in the right direction. A trader has defined TP for all the entries. Do you always wait to close your entries by default wit TPs or you do close some positions manually before the price reaches predefined TPs???
Closing Component Positions

There is no rule. When component positions in the trade are closed is up to the trader. Personally, since I am in US, and since it is a practice of some brokers here to apply any pending TP to all open orders, automatically making all components have the same TP, I just keep adjusting that single TP, as I see fit to do so, after adding a component. And when I am finished adding components, I might still adjust the single TP if I see that price action warrants doing so.

With PVSRA, entries and exits do not have to be exacting. This is a relaxed manner of trading. I find it more so by just closing all components at once at the single TP I have placed as a pending order. Below is an example. I don't know how the rest of this last day of the week might go. So, I might raise the TP, or if I see reason to believe more downside is coming next week, I might even lower it. The point being, I only have to deal with one TP for the entire trade, and I can change it at will as I see that the price action warrants doing so.
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  • #52,059
  • Jun 28, 2013 9:45am Jun 28, 2013 9:45am
Quoting traderathome
{quote} Closing Component Positions There is no rule. When component positions in the trade are closed is up to the trader. Personally, since I am in US, and since it is a practice of some brokers here to apply any pending TP to all open orders, making all components have the same TP, I just keep adjusting that single TP with each added component. And when I am finished adding components, I might still adjust the single TP if I see that price action warrants doing so. With PVSRA, entries and exits do not have to be exacting. This is a relaxed manner...
Thank a lot for explanation!
  • #52,060
  • Jun 28, 2013 9:46am Jun 28, 2013 9:46am
Quoting traderathome
{quote} We have our targets and our plan. Tick by tick display of P/L based on trade average cost and current price would only be distracting and cluttering, not to mention another drain on computer resources. Just my opinion. It might even encourage traders to close too soon, seeing pips profit though target not yet reached.
Try this:-

Try it on a chart with a live trade to see how it works.
Attached File(s)
File Type: mq4 Show_AverageEntryPrice.mq4   8 KB | 508 downloads
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